Is product-market fit a myth?

Product-market fit, often misunderstood and considered elusive, is a crucial concept for product managers, representing the alignment between a product and the needs of a market. It involves not just creating a product that meets a market's need but also evaluating the quality of the product, the market, and the urgency of the need. Achieving product-market fit is not a binary state but a spectrum, requiring continuous iteration and adaptation to market demands. It's influenced by three main components: the product, the market, and the user's need, and is not solely dependent on the product itself. Other factors such as marketing, sales, and customer success also play significant roles in achieving and maintaining product-market fit. The journey towards product-market fit involves ongoing evaluation and adjustment, particularly as market conditions and customer expectations change. Therefore, it is essential for teams to work collectively to align efforts towards reaching and optimizing product-market fit, rather than viewing it as the sole responsibility of the product team.